Amcham puts proposals to finance minister Miklos

Representatives of the American Chamber of Commerce in Slovakia had a meeting yesterday 18 November with finance minister Ivan Miklos to put forward their proposals concerning the business environment.

Among other things, they are calling for profit from the sale of shares in companies to be made exempt from taxation. Miklos said the ministry would look into the proposal, but that it could be a problem as these earnings are in fact taxed twice.

Miklos admitted, however, that the proposal would lead to greater competitiveness and economic growth in Slovakia, and so also stronger investment.

Amcham also wants to see the penalisation system for taxes and accounting changed, because at present they are unfair. Miklos agrees that the present system is not a good one because “some company that is not willing to co-operate with the can end up paying lower fines than a company that does co-operate”.

Miklos said that the proposals were inspiring and expressed his conviction that some of them would eventually be incorporated into the tax system.

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